PayPal has filed a lawsuit against Bank One accusing the bank of infringing on its Internet payments processing patent issued in 1998. The lawsuit was filed U.S. District Court for Delaware. PayPal said it put Bank One on notice in February. One year ago, Bank One sued PayPal for infringing on one of its patent. Bank One holds a patent that covers a cardless Internet payment system for its customers. The Bank One action is still in the pretrial phase. PayPal asked for a jury trial in the lawsuit filed this week.Details
China Southern Airlines has signed a new agreement with China Union Pay and VISA to provide its International credit card payment service to China Southern Airlines’ e-ticket customers. The airline is also offering domestic e-ticketing on its English Web site. China Southern Airlines is the first airline in China to offer Internet e-tickets. In April, the Agricultural Bank of China, China Construction Bank, China Merchants Bank, Bank of China, and the Industrial and Commercial Bank of China became the first group of financial institutions in China to provide online payment services. In September 2003, an additional 12 banks began to provide online payment services to China Southern Airlines customers.
In the first three quarters of this year, China Southern’s e-ticket sales reached RMB 1.3 Billion ($157 Million USD).
Banco de Credito del Peru has renewed its contract for ACI’s “BASE24” for five years. The contract also includes additional modules for debit card authorization. Banco de Credito boasts the largest Peruvian ATM network and is the country’s largest credit card Issuer. The bank has been a “BASE24” customer since 1993.Details
JCB is launching a sweepstakes offering a total of US$1 million in cash prizes to boost international spending. Japanese cardholders who spend at least Y30,000 abroad on the JCB card over the next six months will be eligible. After the promotion period JCB will select 700 cardholders from this group and award them with Y100,000 each. Cardholders in Hong Kong must charge at least HK$2,000 abroad to be eligible to win HK$10,000. JCB has 48 million cardholders.Details
Lizzie McGuire, Kelly Collins, known in real life as Hilary Duff, has launched a line of “VISA Gift Cards.” The teenage actress and recording artist is targeting American teenagers for the one-time use prepaid card. The first card designed features Hilary afloat in the swimming pool. Other “Hilary” card images will be rolled out next year. The card will be marketed by Legend Credit and managed by Clarity Payment Solutions. The card is available in $25, $50, $75, and $100 denominations. It is being sold through a special “Hilary” Web site.Details
The dominant online auction marketplace, and two of the nation’s top ten bank credit card issuers, have teamed to launch a co-branded MasterCard. MBNA and Providian will both issue the new “eBay Anything Points MasterCard.” MBNA will issue the card to “super-prime” and “prime” credit, while Providian will issue the card to “prime” and “sub-prime” credit. The new card will offer cardholders points on all purchases. Each point will have an eBay currency value of $0.01. The eBay currency can be spent on virtually anything for sale on the eBay site. Cardholders must be enrolled in the “Anything Points” program to begin spending points earned from the MasterCard. Members’ points are accumulated in their PayPal accounts. The points can then be used to purchase items from any eBay seller accepting PayPal for payment. In addition, the points can be applied towards eBay selling fees. Sellers will also be able to award points to their buyers on eBay. Participating companies of the “Anything Points” program can give points as rewards for purchases, incentives for new customer sign-ups, or in exchange for points accrued in their own loyalty programs. The new credit card is the latest expansion of the “eBay Anything Points” program, launched in May. In 2001, Providian launched the co-branded “PayPal VISA” card. PayPal was acquired by eBay. (CF Library 6/18/03)Details
Via One Technologies and Debisys have teamed to provide prepaid distribution companies with an electronic turnkey solution delivering all the major prepaid wireless programs including wireless handset equipment and accessories through standard credit card terminals, telephones or web terminals. The Via One Payment and Provisioning Systems platform connects the wireless distribution supply chain of telecommunications carriers, cellular equipment manufacturers, fulfillment companies, distributors, POS operators and POS. Debisys, Inc. supplies proprietary technology-based transaction processing solutions to leading telecommunication carriers, service providers and prepaid distribution companies.Details
Bank credit card issuers based in Singapore continue to post a 20% increase in monthly charge-offs compared to last year. However, losses in August remain well below June’s $17.5 million, a twelve year high. According to the Monetary Authority of Singapore, credit card issuers wrote-off $15.7 million in August compared to $13.1 million one-year ago. Much of the rising losses this year were due to the outbreak of SARS, which sacked the local economy. According to the MAS, bank credit card issuers lost $14.0 million in May, $15.6 million in April, $13.6 million in March, $13.7 million in February, and $12.1 million in January. The total number of cards in the country at mid-year was 3.3 million, which included 2,295,027 primary cards and 992,555 supplementary cards.Details
Capital One and Consumer Action yesterday kicked-off their two-day “MoneyWi$e” financial literacy training program in Texas, with representatives from more than 80 local, non-profit groups in attendance from communities across the state. MoneyWi$e was created to provide consumers at all income levels with both the information and practical assistance they need to help better manage their finances. Capital One is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 500 index. Consumer Action and leading credit card provider Capital One announced that their joint MoneyWi$e financial literacy partnership will provide free training to more than 80 non-profit groups from communities across Texas.Details
Vital Processing Services has hired Kathy Crumley, former VP of the “Global Alliance Channel” for Hypercom, to serve as VP, “Vital Integration Partners” program. Vital is focused on extending its reach into the POS marketplace through enhancing its relationship with System Integrators and Software Developers to add value to Vital’s acquiring clients. Today, Vital has more than 500 companies and 1,000 POS applications approved to process on its system. The world’s recognized leader in technology-based commerce enabling services, Vital Processing Services Vital brings the power of pure commerce to more than 300 acquirers and one million merchants.Details
American Express has expanded its prepaid card offerings with the introduction of a reloadable travel card. The new “TravelFunds Card” can be used at both the POS and ATM. The card is available in U.S. Dollar, Euro and British Pound Sterling, enabling cardholders to lock in exchange rates. AmEx will provide refunds on a 24-hour basis if the card is ever lost or stolen. AmEx says the card will also protect users against identity theft. AmEx also offers users free passport and credit card replacement services. The issuer says it is working with its partners, namely, Continental, Delta, Starwood, Alamo, and National Car Rental, to distribute the card. The TravelFunds Card can be purchased over the phone or online. AmEx’s prepaid products include “Cheques for Two,” “Gift Cards,” “Gift Cheques,” the “Be My Guest” dining card, as well as a range of corporate incentive prepaid products through American Express Incentive Services.Details
The impact of SARS is still affecting Singapore-based bank credit card issuers. According to this week’s issue of CardFlash International, monthly charge-offs in Singapore are running 20% above last year. However, losses in August remain well below June’s S$17.5 million, a twelve year high. According to the Monetary Authority of Singapore, credit card issuers wrote-off S$15.7 million in August compared to S$13.1 million one-year ago. Much of the rising losses this year were due to the outbreak of SARS, which sacked the local economy. According to the MAS, bank credit card issuers lost S$14.0 million in May, S$15.6 million in April, S$13.6 million in March, S$13.7 million in February, and S$12.1 million in January. The total number of cards in the country at mid-year was 3.3 million, which included 2,295,027 primary cards and 992,555 supplementary cards.Details